Cheap Ruble Drives Russia’s Drug Prices Up 15% – Kommersant - (The Moscow Times via NewsPoints Desk)

  • A number of Russian vendors have started raising drug prices by 10% to 15% because of the ruble's devaluation during the coronavirus pandemic, reported The Moscow Times.

  • Sergei Shulyak, the head of the DSM Group pharmaceutical market research agency, explained that several vendors raised prices because they anticipate higher costs for future supplies.

  • Year-on-year demand at some chains has grown by as much as 50% in mid-March as Russians raced to pharmacies to stock up at the outset of the outbreak, according to a report in Kommersant. 

  • Since they have amassed up to six months' worth of medicine, Shulyak forecasts that prices will not go up again in the coming months because of reduced demand during Russia's coronavirus quarantine. 

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